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In: Accounting

Listed below (in random order) are all of the December 31, 2016 balance sheet accounts of...

Listed below (in random order) are all of the December 31, 2016 balance sheet accounts of McCrery Company.

Land

$70,500
Sinking fund for bond retirement

8,400
Discount on bonds payable

8,900
Equipment

24,000
Preferred stock, $100 par

5,000
Accumulated depreciation, buildings

5,500
Investment in bonds held to maturity

24,500
Accrued wages

3,950
Additional paid-in capital on common stock

3,500
Buildings

117,500
Bonds payable (due 2019)

113,000
Office supplies

1,750
Retained earnings

17,400
Inventory

18,900
Accounts receivable

17,650
Accounts payable

15,650
Prepaid insurance

1,900
Common stock, $10 par

106,750
Allowance for doubtful accounts

2,250
Interest payable

1,500
Cash

14,500
Treasury stock (at cost)

1,150
Dividends payable

14,750
Additional paid-in capital on preferred stock

2,150
Notes payable (due 1/1/19)

8,000
Income taxes payable (current)

6,000
Accumulated depreciation, equipment

4,250

​

Required:
Prepare a properly classified balance sheet for McCrery Company on December 31, 2016.

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Expert Solution

ekkarill92 answered 3 years ago
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